July 15, 2019 / 10:29 PM / 2 months ago

Rio Tinto quarterly shipments fall 3.5% on cyclone disruption

July 16 (Reuters) - Global miner Rio Tinto reported a 3.5% drop in second-quarter iron ore shipments on Tuesday, as disruptions caused by a cyclone in late March squeezed output in the April-June period.

The company shipped 85.4 million tonnes of iron ore, the key ingredient in steelmaking, in the quarter ended June 30, down from 88.5 million tonnes a year earlier. Brokerage UBS had estimated quarterly shipments of 85.2 million tonnes. (bit.ly/2LUVXVu)

Despite the second-quarter drop, Rio Tinto maintained its annual iron ore shipments forecast in the 320 million to 330 million tonnes range. (Reporting by Aditya Soni and Aby Jose Koilparambil in Bengaluru; Editing by Shounak Dasgupta)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below